In case you are a trained real estate broker and thus looking for the right brokerage agency to work for as you start your career, you need to be aware of the fact that it is your part to interview the agency and not to let them be the ones to interview you. Primarily, you need to ensure that the kind of sponsoring broker you are looking forward to work for is the one that best aligns with your career objectives and as well one that will get you the most of your value for money. In as much as success in the career of real estate brokerage is spelt by the nature of the training that one undergoes, the fact is as well that joining a good real estate broker sponsor to start off your career is as well an integral part to defining the success you will have in your career as a real estate broker. All these point to the fact that you are as directly responsible for your success in the career and as such you need to ensure that you get a good sponsoring broker to kick off your career. Given below are actually some of the points to look out for when you are looking for the best real estate sponsoring broker to work with as you jump start your career as a real estate broker.
What you need to know of first is the fact that the real estate brokerages vary wildly and widely in what they offer their new agents, the commission splits, culture and expectations. It has been the habit of most agents to base their decisions on the commission splits and by far and large, this may not be the best route to take as you make your decision for those starting out.
In this regard, it is recommended that you meet with a minimum of three brokerage sponsors all different and do some research into them way beforehand. Once you have found the ones, the top three or four, that are most appealing to you, schedule a meeting with them and ask some of the following questions.
This is now the point in time for you to ask of the commission splits. Ask of the ratio that the brokerage allows for the agent and the ratio that goes for the sponsor, like 40% to the broker and 60% of the commissions earned going to you or otherwise.
The other financial issues to look into with the sponsoring brokerage are the issues of the franchise fees charged, commission caps and any other brokerage related fees.